You may hardly be given any choice to amend any clause of the loan agreement, if the lender happens to be a Bank.

Your liability for repayment of the loan is co-extensive with the principal borrower. However, if you have to pay the loan because inability of your friend to repay, you will be entitled to recover the amount from your friend.

in case you can pay 10lacs upon default of your friend, you may go ahead otherwise stay away.